U.S. financial statements present fairly, while U.K. financial statements are true and fair. What is the difference

Question:

U.S. “present fairly,” while U.K. are “true and fair.” What is the difference between these two concepts?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...